Technical analysis by AMEGA - Opinion

The bull market is continuing. The price has already reached the target zone №1 4161.08-4137.09 and it is going to the target zone №2 4425.01-4377.03. Any price reduction is considered like corrective. The best prices to try to have a long position are the control resistance zone 3636.59-3588.61. In case of the price is fixed below the control resistance zone the medium-term trend will be changed to the bear market and all long positions should be closed.

Trading recommendation:

It’s recommended to try to have a long position near the control resistance zone 3636.59-3588.61 (5278 points from current minimum) with using the pattern «Head&Shoulders» at least on timeframe M15.

The control resistance zone is constructed from the current maximum. If this maximum changes by n points the zone should also be shifted n points up. The risk/reward ratio for every order should be at least 1/3.

All zones are constructed on the basis of data from the CME futures market.

Leveraged trading in foreign currency contracts or other off-exchange products on margin carries a high level of risk and may not be suitable for everyone. We advise you to carefully consider whether trading is appropriate for you in light of your personal circumstances. You may lose more than you invest. Information on this website is general in nature. We recommend that you seek independent financial advice and ensure you fully understand the risks involved before trading. Trading through an online platform carries additional risks.